Mutual of America Capital Management LLC Acquires 2,589 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Mutual of America Capital Management LLC lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BKGet Rating) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,323 shares of the bank’s stock after purchasing an additional 2,589 shares during the period. Mutual of America Capital Management LLC’s holdings in Bank of New York Mellon were worth $4,226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in Bank of New York Mellon by 8.3% in the first quarter. American Century Companies Inc. now owns 14,454,703 shares of the bank’s stock worth $717,387,000 after acquiring an additional 1,110,848 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Bank of New York Mellon by 9.0% in the second quarter. Victory Capital Management Inc. now owns 8,151,177 shares of the bank’s stock worth $339,985,000 after acquiring an additional 676,272 shares in the last quarter. LSV Asset Management boosted its holdings in Bank of New York Mellon by 3.5% in the first quarter. LSV Asset Management now owns 7,607,994 shares of the bank’s stock worth $377,585,000 after acquiring an additional 259,773 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Bank of New York Mellon by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,981,439 shares of the bank’s stock worth $197,599,000 after acquiring an additional 31,025 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Bank of New York Mellon by 22.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,833,515 shares of the bank’s stock worth $118,186,000 after acquiring an additional 513,597 shares in the last quarter. Institutional investors own 83.00% of the company’s stock.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $39.37, for a total value of $787,400.00. Following the completion of the sale, the executive vice president now directly owns 108,686 shares of the company’s stock, valued at $4,278,967.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK opened at $44.56 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $36.02 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.69 and a beta of 1.10. The stock has a 50 day moving average of $41.47 and a 200 day moving average of $42.61. The Bank of New York Mellon Co. has a 12 month low of $36.22 and a 12 month high of $64.63.

Bank of New York Mellon (NYSE:BKGet Rating) last issued its quarterly earnings results on Monday, October 17th. The bank reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.20 billion. Bank of New York Mellon had a return on equity of 10.07% and a net margin of 16.07%. Bank of New York Mellon’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $1.04 earnings per share. As a group, sell-side analysts forecast that The Bank of New York Mellon Co. will post 4.32 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Wednesday, October 26th. Bank of New York Mellon’s dividend payout ratio is currently 44.98%.

Analyst Ratings Changes

Several brokerages have issued reports on BK. StockNews.com began coverage on Bank of New York Mellon in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Bank of New York Mellon from $43.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, November 15th. Morgan Stanley lowered their price objective on Bank of New York Mellon from $45.00 to $41.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 4th. Barclays lowered their price objective on Bank of New York Mellon to $57.00 in a research note on Thursday, October 20th. Finally, Citigroup increased their price objective on Bank of New York Mellon from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, October 18th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.27.

Bank of New York Mellon Profile

(Get Rating)

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and Other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, prime brokerage, and data analytics.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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